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Mothers Work Rebounds

PHILADELPHIA-Rising sales nearly eradicate quarterly losses as a "counter-offensive" kicks in.

By Marita Thomas | Updated on November 21, 2006

PHILADELPHIA-Mothers Work Inc,’s “three-year counter-offensive” against the growing number of competitors that entered the maternity apparel market in 2002 is showing positive results. In its fourth fiscal quarter ended Sept. 30, the locally based company narrowed its loss to $602,000, versus a loss of $5.3 million in the same quarter a year ago.

Operating income for the final quarter was $3.3 million, compared with an operating loss of approximately $5.6 million in the prior-year quarter. Net sales reached $142.8 million, up 5.6% for the quarter, and comp-store sales rose 6.5%. Gross margins also rose for the quarter.

The sales increases are attributed primarily to comp-store performance and sales from the company’s Oh Baby! By Motherhood license arrangement with Kohl’s, according to Ed Krell, EVP and CFO, who spoke during a conference call. Multi-brand units, especially the Destination Maternity superstores, also played a role, he said.

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